Commenting on the results, Australian Ethical managing director Phil Vernon said the past year has been extremely successful, with every aspect of the business performing “above expectations”.
“Our profits for the financial year to 30 June 2014 have shown a significant improvement over the previous year which was, in turn, a significant improvement on the year before,” Mr Vernon said.
“Our new client intake and net fund inflows are well above our forecasts and industry averages, our investment performance has beaten mainstream benchmarks, our people are highly engaged and we continue to improve the efficiency of our operations,” he said.
“As a result we are at almost $1 billion in funds under management, our profit is strong and our share price has doubled in the past 12 months.”
Australian Ethical said its net flows have also improved across both its superannuation and managed funds due to investment performance and improved brand awareness.
“The performance of our funds continues to be strong over the long term, with most having performed in line with or above the median fund in their relevant Mercer surveys,” Mr Vernon said.
Australian Ethical also said its board has elected to pay a fully franked final dividend of 120 cents per share, taking the 2013/2014 fully franked dividend to 200 cents per share.
